135 Salem AVE SW, Roanoke, VA 24011
$1,795,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
3,485
Status:
Active
Current Price:
$1,795,000
List Date:
2/09/2026
Last Modified:
3/19/2026
Description
135 W Salem Avenue is an investment opportunity in the heart of Downtown Roanoke. This 10-unit mixed-use asset combines historic Roanoke character with modern livability, offering investors both stability and upside.
The property features ground-floor commercial space positioned for strong visibility on the corner of Salem Ave and 2nd Street. Above the commercial space are nine residential units served by an elevator.
135 W Salem delivers immediate and diversified cash flow, supported by a mix of long-term residents and short-term executive tenants. The short-term units cater primarily to executive and traveling healthcare professionals. a tenant base that continues to grow alongside Roanoke's expanding medical and technology sectors.
More Information MLS# 924529
Contract Information
Current Price: $1,795,000
List Price: $1,795,000
List Date: 2026-02-09
Status: Active
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1906
Number of Units: 10
# Furnished: 6
# Unfurnished: 4
# Leased Units: 10
Gross Bldg SQFT: 15676
Lot Dimensions: 30 x 140
Total Acreage: 0.08
Basement Y/N: No
Parking Description: Off Site
Operating Expense: 73627
Net Operating Income: 133068
Gross Income: 206695
Water Class: N/A
Location Legal Taxes
Area: 0110 - City of Roanoke - Downtown
Street Number: 135
Street Name: Salem
Street Suffix: AVE
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24011
Subdivision: N/A
Municipality: City of Roanoke
Elementary School: Highland Park
Middle School: James Madison
High School: William Fleming
Property Features
Limited Service: Not Limited Service
Construction: Brick
Heating: Forced Air Electric; Heat Pump Electric
Cooling: Central Air
Water Description: Public
Sewer Description: Public Sewer
Owner Expenses: Water
Tenant Expenses: Cable TV; Deposit; Electricity
Listing Office: POE & CRONK REAL ESTATE GROUP
Last Updated: March - 19 - 2026
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